Ava Labs has announced the launch of Athereum, a protocol regarded as Ethereum on Avalanche Consensus.
According to Ava Labs, the launch is in appreciation of Ethereum for offering the world the opportunity to build decentralized applications, as crypto lovers, entrepreneurs and blockchain app developers employ the potentials of decentralized networks to better economies across the world.
The announced Athereum testnet subnetwork on AVA is seen as a friendly fork, better put “spoon”, of Ethereum blockchain dependent on the Avalanche consensus protocol and applications in the Ethereum ecosystem.
Benefiting from Ethereum, AVA network offers DApp developers its highly sought after, scalable, modifiable, and modular platform-of-platforms.
The platform gives developers the room to design their subnetworks that has the power to trade, use and issue any cryptocurrency thought of. The newly unveiled Athereum happens to be the maiden subnetwork supported on the AVA Platform that makes use of already existing cryptocurrency.
Different ideas are being launched on Ethereum network, but Athereum stands out in many ways. The network possesses the whole functionality that the Ethereum Virtual Machine (EVM) has.
Athereum supports a similitude of the ETH token, which is the ATH token.
“Existing Ethereum holders will have access to ATH equal to the current amount of ETH they hold in their wallets,” AVA Labs has said.
Note that AVA Labs is not working towards replacing Ethereum, however, the said fork is to offer an alternative environment where DApps are run at a higher finality and standardized throughput.
AVA Labs’ Athereum is fashioned to bring about numerous development and research in the DApp world through offering a state of the art EVM.